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Multifamily Monday: Frisco Parcel Sold

Multifamily Monday: Frisco Parcel Sold
Amli Residential plans to add to its existing DFW portfolio of about a dozen apartment communities, with the recent acquisition of a 7.38-acre parcel near SH 121 and the Dallas North Tollway in Frisco.
 
AMLI Frisco site
We channeled our inner John Madden (it is Bowl season) to highlight the land along Parkwood Blvd behind Dr Pepper Ballpark, adjacent to the Embassy Suites and Frisco Conference Center. Cousins Properties repped seller Dallas investor Tom Hicks in the sale to the Chicago-based luxury multifamily developer. Cousins VP Kyle Vinson tells us Amli plans to break ground around May, to build a 335 to 350-unit project in 18-24 months. “This site on the first base side of the ballpark is ideal for the type of high-quality residential projects that AMLI is known for,” Kyle tells us. (Slow-swinging righties are considered an amenity since they'll lead to more foul balls heading toward residents.) Cousins is continuing to manage and direct development for the remaining land at the 75-acre, mixed-used development, aka Champions Park.